Business
$920,000 USD Received by PowerBank in Closing of Term Conversion of Financing for Geddes Project
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to announce that is has received $920,00 USD from the closing of the term conversion of the construction loan for the Geddes Project (the "Project") in upstate New York. The loan was initially announced by PowerBank on June 24, 2024.
About this update from Powerbank Corporation
[{"type":"text","content":"PowerBank Secures Mini-Perm Financing Following Successful Commissioning of Community Solar Asset","length":97,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, Feb. 2, 2026 /CNW/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to announce that is has received $920,00 USD from the closing of the term conversion of the construction loan for the Geddes Project (the "Project") in upstate New York. The loan was initially announced by PowerBank on June 24, 2024.","length":487,"tagName":"p"},{"type":"image","alt":"PowerBank Logo (CNW Group/PowerBank Corporation)","displaySize":"","headline":null,"caption":"PowerBank Logo (CNW Group/PowerBank Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":65,"url":"https://media.zenfs.com/en/cnwgroup.com/92b3323014a053d512f64c98cf06a57a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ve5sOjJAt.UpdNMDLMwYiw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExNTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/92b3323014a053d512f64c98cf06a57a","width":400,"height":65}},"href":"https://mma.prnewswire.com/media/2873790/PowerBank_Corporation__920_000_USD_Received_by%C2%A0PowerBank_in_Clos.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"PowerBank entered into a loan agreement with Seminole Financial Services, LLC ("Seminole") for an initial $2,600,000 USD construction to mini-perm loan (the "Loan") which was used to complete construction of the Geddes Project located in Upstate, New York. This funding structure enables PowerBank to efficiently transition from construction financing to long-term debt to support operations .","length":413,"tagName":"p"},{"type":"text","content":"Seminole Financial Services was founded with the goal of financing Renewable Energy and Real Estate projects across the United States. To date, Seminole has directly funded over US$3.5 Billion in capital for Renewable Energy projects, demonstrating their strong commitment to the clean energy transition. Their expertise in renewable energy financing has made them a trusted partner for developers seeking to scale sustainable infrastructure projects.","length":451,"t...